Azania Bank inaugurates new branch in Dodoma

AZANIA Bank Limited has launched its new branch in the country’s headquarters of Dodoma in its self-declared bid to extend its tentacles countrywide, boost its service delivery to customers as well as supporting President John Magufuli’s industrialisation drive through financial services.

Speaking during the ground breaking ceremony to inaugurate the new branch here, the bank’s managing director (MD), Charles Itembe said currently his bank has 19 branches countrywide including the new one which is now called Sokoine-Dodoma.

“Our current main strategic objective is to expand our network by establishing at least three branches each year as well as increasing our market share by at least 3 per cent in three years,’’ said Itembe.

The MD added that the bank’s other objectives were centred at elevating the bank to Tier One within five years of strategic business objectives.

On why the bank decided to inaugurate a new branch in Dodoma, Itembe said the latter was the fast growing region which is in the centre of the country and that it is the headquarters of the country, meaning, all government activities are conducted here.

Itembe further insisted that by elevating Dodoma municipality into city status, the government put his bank at the best position as growth of the city needed more financial services on its daily business.

“In supporting President Magufuli’s industrial agenda, there should be strategies to boost income through strong financial services and Azania Bank Limited is committed to make this a reality in collaboration with the government and all citizens,’’ he noted.

Speaking at the launching ceremony, Deputy Minister for Finance and Planning, Dr Ashatu Kijaji paid tribute to the bank’s management, at the same time challenging financial institutions in the country to ensure that they are full confronted with Non-Performing Loans (NPL) and reduce operational costs so that they can serve their customers at a lower cost compared with the current situation.

"I know for sure that unfaithful staffs are the source of NPL and that's why I strongly ask for the boards and managements of these institutions to take action in line with reducing operating costs because the government will not tolerate any negligence in the implementation of this," she said.